Service Corp International
SCI on NYSE. Service Corp International sells funerals, burials, and cemetery plots to families. Market value $10.4bn.
Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.
Should I look at this?
Worth a closer look
Why it could be worth it
What to watch out for
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $6.01 of spare cash in the past 12 months. A savings account pays about $4.
You pay 16.0 years of operating profit for the business. The average large US company costs around 18.
Each dollar kept in the business earns 12 cents a year. Above 10 is good.
Quality score: 72 of 100. Price score: 87 of 100. Our list needs 70 on quality and 60 on price.
$77.30 a share, 13% above its 1-year low
Over the past year the price has ranged from $68.41 to $90.99.
Dividend: 1.7% a year
Paid every year for at least 5 years
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | |||||
| Revenue | $4.1bn | $4.1bn | $4.1bn | $4.2bn | $4.3bn |
| Operating margin | |||||
| Operating margin | 28.7% | 22.6% | 23.0% | 22.2% | 22.7% |
| Debt to equity | |||||
| Debt to equity | 2.15 | 2.64 | 3.11 | 2.95 | 3.21 |
| Shares outstanding | |||||
| Shares outstanding | 0.15bn | 0.15bn | 0.14bn | 0.14bn | 0.14bn |
Health checks
- Free cash flow positive5 of 5 years
- Accounting looks honest (Beneish)Not enough data
- Financial strength (Piotroski)7 of 9
- Profit backed by cash (accruals)Yes
- Debt3.21× equity
- Revenue growth, five yearsSlow, 4.2% a year
- Buying back its own sharesYes, 12% fewer since 2021
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $1.1 billion last quarter, about the same as a year ago.
- Profit: $125 million, up 2% on a year ago.
- It keeps 22 cents of each $1 of sales as operating profit, about the same as a year earlier.
- Spare cash over the past 12 months: $635 million, down from $642 million.
- 3% fewer shares than a year ago. Each share owns a bit more of the company.
- Debt is $5 billion more than cash, up from $4.8 billion a year ago.
- Sales grew on a year ago in each of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $1.0bn |
| December 2024 | $1.1bn |
| March 2025 | $1.1bn |
| June 2025 | $1.1bn |
| September 2025 | $1.1bn |
| December 2025 | $1.1bn |
| March 2026 | $1.1bn |
| June 2026 | $1.1bn |
| Quarter to | Amount |
|---|---|
| September 2024 | $118m |
| December 2024 | $151m |
| March 2025 | $143m |
| June 2025 | $123m |
| September 2025 | $117m |
| December 2025 | $159m |
| March 2026 | $136m |
| June 2026 | $125m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 12 February 2026
- Next quarterly (estimated, 10-Q)
- 29 October 2026
Who owns it
3 long-term investors we follow own it, unchanged from 3 last quarter. 547 funds in all.
- First Manhattan Co.First Manhattan partners
- Value
- $88m
- Share of fund
- 0.2%
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Select Equity GroupGeorge Loening | $253m | 1.3% | Cut |
| First Manhattan Co.First Manhattan partners | $88m | 0.2% | |
| Gotham Asset ManagementJoel Greenblatt | $18m | <0.1% | Cut |
Largest holders overall
- BlackRock$1.1bnAdded
- FMR$618mAdded
- Vanguard Portfolio Management$528m
- Vanguard Capital Management$455m
- Baillie Gifford$422mCut
- T. Rowe Price Investment Management$418mCut
- State Street$334m
- FIL$325mAdded
- Raymond James Financial$317mAdded
- Swedbank AB$314m
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
4 investors own more than 5%.
- FMR LLCPassive investorat least 5.9%+1.2 pts(filed with 1 related holder)Since 30 June 2026
- Vanguard Capital ManagementPassive investor5.1%Since 31 March 2026
- Vanguard Portfolio ManagementPassive investor5.0%Since 31 March 2026
- Select Equity GroupPassive investorat least 4.9%(filed with 1 related holder)Since 31 March 2025
- BAILLIE GIFFORD & COPassive investorSold down below 5%Since 30 June 2026
- T. Rowe Price Investment Management, Inc.Passive investorSold down below 5%Since 31 March 2025
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
| Holder | Stake | Since | |
|---|---|---|---|
FMR LLC Passive investor | at least 5.9%+1.2 pts (filed with 1 related holder) | 30 June 2026 | |
Vanguard Capital Management Passive investor | 5.1% | 31 March 2026 | |
Vanguard Portfolio Management Passive investor | 5.0% | 31 March 2026 | |
Select Equity Group Passive investor | at least 4.9% (filed with 1 related holder) | 31 March 2025 | |
BAILLIE GIFFORD & CO Passive investor | Sold down below 5% | 30 June 2026 | |
T. Rowe Price Investment Management, Inc. Passive investor | Sold down below 5% | 31 March 2025 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 7 sold $42m.
- TANZBERGER ERIC DExec. VP, and CFOSold
- Date
- 3 August 2026
- Shares
- 54,800
- Price
- $86.04
- Value
- $5m
- RYAN THOMAS LCEO & Chairman, DirectorSold
- Date
- 31 July 2026
- Shares
- 253,391
- Price
- $85.25
- Value
- $22m
- Faulk John HSVP, COOSold
- Date
- 31 July 2026
- Shares
- 24,600
- Price
- $85.65
- Value
- $2m
- COELHO TONYDirectorSold
- Date
- 10 March 2026
- Shares
- 7,700
- Price
- $79.87
- Value
- $614,999
- Moore Tammy RVP, Chief Accounting OfficerSold
- Date
- 13 February 2026
- Shares
- 5,000
- Price
- $80.48
- Value
- $402,400
- Nash Elisabeth G.Sr. V.P. Operations ServicesSold
- Date
- 4 December 2025
- Shares
- 42,400
- Price
- $76.32
- Value
- $3m
- TANZBERGER ERIC DExec. VP, and CFOSold
- Date
- 5 November 2025
- Shares
- 80,800
- Price
- $81.53
- Value
- $7m
- WARING SUMNER J IIIPresidentSold
- Date
- 31 October 2025
- Shares
- 30,300
- Price
- $83.15
- Value
- $3m
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 3 August 2026 | TANZBERGER ERIC D Exec. VP, and CFO | Sold | 54,800 | $86.04 | $5m |
| 31 July 2026 | RYAN THOMAS L CEO & Chairman, Director | Sold | 253,391 | $85.25 | $22m |
| 31 July 2026 | Faulk John H SVP, COO | Sold | 24,600 | $85.65 | $2m |
| 10 March 2026 | COELHO TONY Director | Sold | 7,700 | $79.87 | $614,999 |
| 13 February 2026 | Moore Tammy R VP, Chief Accounting Officer | Sold | 5,000 | $80.48 | $402,400 |
| 4 December 2025 | Nash Elisabeth G. Sr. V.P. Operations Services | Sold | 42,400 | $76.32 | $3m |
| 5 November 2025 | TANZBERGER ERIC D Exec. VP, and CFO | Sold | 80,800 | $81.53 | $7m |
| 31 October 2025 | WARING SUMNER J III President | Sold | 30,300 | $83.15 | $3m |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
None of the warning signs we check for were found.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 12 Feb 2026, plus the 10-Q filed 30 Jul 2026 and 9 later 8-Ks.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
What could go wrong
- It carries a lot of debt: 3.2× its equity.
Whether the price already reflects the risks is what the deep dive is for.
What changed in the risks this year
Companies must list what could hurt them each year. These are the parts that changed since last year’s report.
A failure of a key information technology system or process could disrupt and adversely affect our business.
Could happenWe may use artificial intelligence (“AI”) technologies in limited aspects of our operations and information technology systems. AI technologies are evolving and may give rise to operational, legal, regulatory, data security, and privacy risks. Such technologies may produce inaccurate, misleading, or biased outputs or be improperly used by employees, which could adversely affect our business, reputation, financial condition, or results of operations. In addition, increased governmental or regulatory scrutiny or legal claims related to AI could result in additional costs or liabilities, even where our use of AI is limited in our information technology systems and processes.
Read more
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.